Gold Seen At USD 3,500, 6,000 And 10,000 Per Ounce

"...Further impetus to higher prices may come from the ECB who are expected to cut interest rates to a record low tomorrow – continuing ultra loose monetary policy which should further weaken the euro.
Negative interest rates continue to penalise pensioners and savers in European countries and this will lead to further diversification into gold.

Financial markets are already starting to wonder about the solidity of last week's summit measures to tackle the euro zone crisis and soon they may question whether even looser monetary policies will help prevent recessions and sovereign defaults.

With Independence Day today (Happy July 4th to all our American followers, clients and friends), the ECB decision tomorrow and NFP on Friday, trading should be quite today but as we know illiquid markets can lead to outsized market moves.

We tend to try and avoid predictions in GoldCore as the future is largely unknowable and there are so many variables that drive market action that it is nigh impossible to predict the future price of any asset class.

However, our opinion has long been that over the long term all fiat currencies will depreciate and devalue against the finite currency that is gold..."

at http://www.zerohedge.com/news/gold-seen-usd-3500-6000-and-10000-ounce